When a parent passes away, oftentimes their spouse or adult children are left to settle the estate. While debt may be the last thing on the mind of someone that loses a loved one, it is an important issue that may arise upon their passing. Many people have similar questions when it comes to estate debt: Are the beneficiaries responsible for a loved one’s debt upon their death? What happens if the assets of the estate amount to less than the debt the parent owed?
